Wikipedia:WikiProject Trains/ICC valuations/Shearwood Railway

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The railroad of the Shearwood Railway Company, hereinafter called the carrier, is a single-track standard-gauge steam railroad, located in southeastern Georgia. The main line extends from Leeland southwesterly to Claxton, a distance of 26.256 miles. The carrier also owns 2.324 miles of yard tracks and sidings. Its road thus embraces 28.580 miles of all tracks owned and used. An extension of the road from Leeland to Egypt, Ga., a distance of about 9 miles, was under construction on date of valuation.

CORPORATE HISTORY

The carrier was incorporated June 10, 1912, under the general laws of the State of Georgia, for the purpose of constructing and operating a Railroad from Clayton to Clyo, Ga., a distance of about 50 miles. The date of organization of the carrier was November 18, 1914.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The owned mileage of the carrier, amounting to 26.256 miles, was acquired partly by construction and partly by purchase. The years when the various portions of the line were constructed and the manner in which the carrier acquired the property are indicated in the following table:

Acquired by construction, Nevils to Claxton, Ga., 1916-1917 12.000

Acquired by purchase from the Shearwood Lumber Co., constructed by that company:

Brooklet to Nevils, Ga., prior to 1915 11.000

Brooklet to Leeland, Ga., 1915 4.00

15.000

Total 27.000

Difference between total recorded mileage and mileage inventoried as of date of valuation 0.744

Mileage inventoried as of date of valuation 26.256

In addition to the mileage shown above, the carrier had under construction on date of valuation an extension of its road from Leeland to Egypt, Ga., a distance of about 9 miles. The construction work of the carrier was performed partly by carrier forces and partly by independent contractors, none of whom appear to have been affiliated with the carrier.

HISTORY OF CORPORATE FINANCING